Goldman Sachs Group Inc. Has $183.57 Million Stake in Ingersoll Rand Inc. $IR

Key Points

• Goldman Sachs Group Inc. increased its stake in Ingersoll Rand Inc. by 3.8% in Q1, owning approximately $183.57 million worth of shares, representing about 0.57% of the company.
• Ingersoll Rand reported $1.89 billion in revenue for the last quarter, exceeding estimates, while its earnings per share matched the consensus at $0.80.
• The company has declared a quarterly dividend of $0.02 per share, reflecting a low dividend yield of 0.1% with a payout ratio of 6.25%.

Goldman Sachs Group Inc. boosted its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,293,782 shares of the industrial products company's stock after purchasing an additional 84,445 shares during the period. Goldman Sachs Group Inc. owned about 0.57% of Ingersoll Rand worth $183,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Sowell Financial Services LLC bought a new stake in Ingersoll Rand during the first quarter worth about $262,000. Concurrent Investment Advisors LLC increased its position in shares of Ingersoll Rand by 14.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock worth $245,000 after purchasing an additional 385 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Ingersoll Rand by 9.4% during the 1st quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock worth $614,000 after purchasing an additional 660 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Ingersoll Rand by 14.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company's stock valued at $58,147,000 after buying an additional 91,777 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Ingersoll Rand by 2.5% in the first quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company's stock valued at $15,285,000 after buying an additional 4,690 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $80.15 on Thursday. The company has a market capitalization of $31.85 billion, a price-to-earnings ratio of 62.61, a PEG ratio of 4.51 and a beta of 1.40. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The stock's 50 day moving average is $82.21 and its 200-day moving average is $80.57.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Equities research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, August 14th. Ingersoll Rand's dividend payout ratio (DPR) is currently 6.25%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Melius cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target for the company. in a research note on Monday, July 14th. Robert W. Baird lifted their price target on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Melius Research set a $93.00 price target on Ingersoll Rand in a research report on Monday, July 14th. Wells Fargo & Company raised their price objective on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Barclays reduced their target price on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $97.75.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.

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